XAUUSD: similar senario as in XAGUSD

FX:XAUUSD   Gold Spot / U.S. Dollar
146 0 3
Similarly to Silver             , Gold             is retracing, possibly to 12580-1300 area. This area coincides with the 50% Fib retracement from the low of the end of May to the high of the beginning of July and an uptrend line in place from the start of the year. The weekly long-term GMMA (blue group of EMAs) is well separated and moving upwards, indicating with relatively high probability that the current price behaviour is likely to be a natural pullback in a well established uptrend.

Since Gold             is almost near the 1280-1300 area, the safest play here is to wait for a rebound from this area and go long to the 1500 level, which corresponds the nearest round number of the 127% Fib extension of the current corrective move.

Lets see what happens!

Happy trading all!
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out